Why Accenture Stock Flopped on Friday
(NYSE: ACN) is one company that's surely glad the trading week is over. The consultancy's share price continued its fall on Friday, losing another 2.9% in value. This was a notably worse performance than the S 500 index's 0.8% slide. Several analysts cut their price targets on the stock, with one going so far as to downgrade his recommendation.
The downgrading party was TD Cowen's Bryan Bergin, who now feels Accenture is worthy of a market perform (hold, in other words) instead of his previous outperform (buy). With the downgrade came a price target cut; this is now $300 per share, down from Bergin's former $325.
In a new note on the stock, the prognosticator wrote that the latest fundamentals from the company indicate a "further deterioration in demand signals that yields incremental uncertainty and estimate risk."
Source Fool.com
Accenture plc A Stock
With 25 Buy predictions and not a single Sell prediction Accenture plc A is an absolute favorite of our community.
With a target price of 352 € there is a positive potential of 31.49% for Accenture plc A compared to the current price of 267.7 €.
